BitcoinLong
🅱️ Bitcoin Weekly Goes Green | Daily Above EMA10
Updated
It is common if the week is going to end green to get the first half red. First half red and second half green.
This week Bitcoin did start red but moved to green right away and this is the first green week in an entire month. The last time Bitcoin closed green on the weekly timeframe was on the 7-Aug. session.
Now, there is always a sudden, strong move before a reversal takes place. There is always a sudden and strong move before a low is set, this is true this week.
Bitcoin started very volatile but is now finally green.
✔️ Still trading above EMA200 which is a major support and bullish signal.
✔️ Moving below EMA200 would be bad but this level continues to hold 5 weeks in a row, which is good.
👉 BTCUSD Weekly (purple line = EMA200)
Here is the interesting part, Bitcoin is moving above EMA10 daily today on rising volume but the session is yet to close and closure is needed for confirmation.
👉 BTCUSD Daily (trading above EMA10: green line)
This is how I see it. A strong reaction is needed before the trend changes, in this case, the correction ends. We just had this strong reaction and confirmation can happen today.
If Bitcoin can close daily above EMA10, with high volume and a strong green candle, it can confirm the resumption of the bullish trend.
Tomorrow would be exactly two months since the last peak, July 13, so it would be a nice day to resume going up.
If not tomorrow, give or take a few days but the bigger picture is up.
Bitcoin has more to give before the final before-halving correction comes.
Feel free to comment and follow to show your support, if you enjoy the content or found anything to learn. If you sometimes feel entertained, feel free to share some love in whatever way.
Namaste.
This week Bitcoin did start red but moved to green right away and this is the first green week in an entire month. The last time Bitcoin closed green on the weekly timeframe was on the 7-Aug. session.
Now, there is always a sudden, strong move before a reversal takes place. There is always a sudden and strong move before a low is set, this is true this week.
Bitcoin started very volatile but is now finally green.
✔️ Still trading above EMA200 which is a major support and bullish signal.
✔️ Moving below EMA200 would be bad but this level continues to hold 5 weeks in a row, which is good.
👉 BTCUSD Weekly (purple line = EMA200)
Here is the interesting part, Bitcoin is moving above EMA10 daily today on rising volume but the session is yet to close and closure is needed for confirmation.
👉 BTCUSD Daily (trading above EMA10: green line)
This is how I see it. A strong reaction is needed before the trend changes, in this case, the correction ends. We just had this strong reaction and confirmation can happen today.
If Bitcoin can close daily above EMA10, with high volume and a strong green candle, it can confirm the resumption of the bullish trend.
Tomorrow would be exactly two months since the last peak, July 13, so it would be a nice day to resume going up.
If not tomorrow, give or take a few days but the bigger picture is up.
Bitcoin has more to give before the final before-halving correction comes.
Feel free to comment and follow to show your support, if you enjoy the content or found anything to learn. If you sometimes feel entertained, feel free to share some love in whatever way.
Namaste.
Note
Bitcoin closing green this week is only the beginning, the following weeks can results in major growth, fast. We should see big candles as it happened in March and/or January 2023, it will be huge.Note
Bitcoin weekly EMA200 has been confirmed as support.This opens the doors for a new high and target around $40,000 minimum. Growth potential can go to $48,000 or higher.
Note
Sep 14, 2023: "This opens the doors for a new high and target around $40,000 minimum. Growth potential can go to $48,000 or higher."
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